Jindal Stainless Limited

NSEI:JSL Stock Report

Market Cap: ₹567.3b

Jindal Stainless Valuation

Is JSL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of JSL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: JSL (₹688.95) is trading below our estimate of fair value (₹899)

Significantly Below Fair Value: JSL is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for JSL?

Key metric: As JSL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for JSL. This is calculated by dividing JSL's market cap by their current earnings.
What is JSL's PE Ratio?
PE Ratio23.1x
Earnings₹24.52b
Market Cap₹567.31b

Price to Earnings Ratio vs Peers

How does JSL's PE Ratio compare to its peers?

The above table shows the PE ratio for JSL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average35.9x
533758 APL Apollo Tubes
71.3x29.0%₹408.7b
SAIL Steel Authority of India
15.9x21.1%₹465.8b
526371 NMDC
10.7x10.7%₹652.8b
520111 Ratnamani Metals & Tubes
45.6x21.7%₹242.0b
JSL Jindal Stainless
23.1x29.5%₹567.3b

Price-To-Earnings vs Peers: JSL is good value based on its Price-To-Earnings Ratio (23.1x) compared to the peer average (35.9x).

Price to Earnings Ratio vs Industry

How does JSL's PE Ratio compare vs other companies in the IN Metals and Mining Industry?

9 CompaniesPrice / EarningsEstimated GrowthMarket Cap
590078 Maithan Alloys
3.8xn/aUS$377.48m
526608 Electrotherm (India)
3.5xn/aUS$156.51m
PRAKASHSTL Prakash Steelage
3.8xn/aUS$16.46m
522165 Indsil Hydro Power and Manganese
1.6xn/aUS$15.98m
JSL 23.1xIndustry Avg. 24.0xNo. of Companies27PE01632486480+
9 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: JSL is good value based on its Price-To-Earnings Ratio (23.1x) compared to the Indian Metals and Mining industry average (24.3x).

Price to Earnings Ratio vs Fair Ratio

What is JSL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

JSL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.1x
Fair PE Ratio45x

Price-To-Earnings vs Fair Ratio: JSL is good value based on its Price-To-Earnings Ratio (23.1x) compared to the estimated Fair Price-To-Earnings Ratio (45x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst JSL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current₹688.95
₹869.60
+26.2%
7.3%₹1,000.00₹756.00n/a10
Nov ’25₹682.25
₹869.56
+27.5%
7.7%₹1,000.00₹756.00n/a9
Oct ’25₹767.40
₹855.78
+11.5%
7.9%₹955.00₹700.00n/a9
Sep ’25₹793.40
₹848.86
+7.0%
8.7%₹955.00₹700.00n/a7
Aug ’25₹736.35
₹807.00
+9.6%
13.6%₹955.00₹647.00n/a7
Jul ’25₹811.30
₹762.00
-6.1%
15.3%₹955.00₹594.00n/a8
Jun ’25₹793.50
₹762.13
-4.0%
15.3%₹955.00₹594.00n/a8
May ’25₹706.95
₹662.25
-6.3%
10.0%₹770.00₹578.00n/a8
Apr ’25₹719.55
₹657.25
-8.7%
10.0%₹775.00₹578.00n/a8
Mar ’25₹650.35
₹657.25
+1.1%
10.0%₹775.00₹578.00n/a8
Feb ’25₹564.60
₹657.25
+16.4%
10.0%₹775.00₹578.00n/a8
Jan ’25₹573.50
₹572.50
-0.2%
6.6%₹625.00₹519.00n/a8
Dec ’24₹517.10
₹527.63
+2.0%
14.3%₹610.00₹350.00n/a8
Nov ’24₹447.75
₹529.00
+18.1%
14.3%₹610.00₹350.00₹682.258
Oct ’24₹475.85
₹464.13
-2.5%
13.5%₹567.00₹350.00₹767.408
Sep ’24₹463.65
₹449.63
-3.0%
10.9%₹510.00₹350.00₹793.408
Aug ’24₹401.45
₹430.43
+7.2%
10.2%₹498.00₹350.00₹736.357
Jul ’24₹330.40
₹369.00
+11.7%
4.7%₹395.00₹350.00₹811.307
Jun ’24₹292.50
₹356.57
+21.9%
11.1%₹395.00₹269.00₹793.507
May ’24₹281.90
₹312.86
+11.0%
9.2%₹360.00₹269.00₹706.957
Apr ’24₹289.80
₹308.57
+6.5%
11.7%₹360.00₹239.00₹719.557
Mar ’24₹271.15
₹308.57
+13.8%
11.7%₹360.00₹239.00₹650.357
Feb ’24₹262.05
₹308.57
+17.8%
11.7%₹360.00₹239.00₹564.607
Jan ’24₹239.15
₹252.33
+5.5%
14.7%₹300.00₹180.00₹573.506
Dec ’23₹176.40
₹242.33
+37.4%
16.1%₹300.00₹180.00₹517.106
Nov ’23₹147.95
₹203.17
+37.3%
35.6%₹300.00₹90.00₹447.756

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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